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Side-by-side financial comparison of Global Business Travel Group, Inc. (GBTG) and Noble Corp plc (NE). Click either name above to swap in a different company.
Global Business Travel Group, Inc. is the larger business by last-quarter revenue ($792.0M vs $764.4M, roughly 1.0× Noble Corp plc). Noble Corp plc runs the higher net margin — 11.3% vs 10.5%, a 0.9% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs -17.6%). Noble Corp plc produced more free cash flow last quarter ($35.4M vs $13.0M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 9.5%).
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
GBTG vs NE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $764.4M |
| Net Profit | $83.0M | $86.6M |
| Gross Margin | — | — |
| Operating Margin | 3.7% | 5.6% |
| Net Margin | 10.5% | 11.3% |
| Revenue YoY | 34.0% | -17.6% |
| Net Profit YoY | 692.9% | -10.4% |
| EPS (diluted) | $0.16 | $0.54 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $792.0M | $764.4M | ||
| Q3 25 | $674.0M | $798.0M | ||
| Q2 25 | $631.0M | $848.7M | ||
| Q1 25 | $621.0M | $874.5M | ||
| Q4 24 | $591.0M | $927.3M | ||
| Q3 24 | $597.0M | $800.5M | ||
| Q2 24 | $625.0M | $692.8M | ||
| Q1 24 | $610.0M | $637.1M |
| Q4 25 | $83.0M | $86.6M | ||
| Q3 25 | $-62.0M | $-21.1M | ||
| Q2 25 | $15.0M | $42.9M | ||
| Q1 25 | $75.0M | $108.3M | ||
| Q4 24 | $-14.0M | $96.6M | ||
| Q3 24 | $-128.0M | $61.2M | ||
| Q2 24 | $27.0M | $195.0M | ||
| Q1 24 | $-19.0M | $95.5M |
| Q4 25 | 3.7% | 5.6% | ||
| Q3 25 | 1.8% | 6.3% | ||
| Q2 25 | 5.4% | 15.9% | ||
| Q1 25 | 8.9% | 21.4% | ||
| Q4 24 | 5.1% | 18.4% | ||
| Q3 24 | 4.5% | 14.4% | ||
| Q2 24 | 6.7% | 30.3% | ||
| Q1 24 | 2.6% | 16.9% |
| Q4 25 | 10.5% | 11.3% | ||
| Q3 25 | -9.2% | -2.6% | ||
| Q2 25 | 2.4% | 5.1% | ||
| Q1 25 | 12.1% | 12.4% | ||
| Q4 24 | -2.4% | 10.4% | ||
| Q3 24 | -21.4% | 7.6% | ||
| Q2 24 | 4.3% | 28.1% | ||
| Q1 24 | -3.1% | 15.0% |
| Q4 25 | $0.16 | $0.54 | ||
| Q3 25 | $-0.13 | $-0.13 | ||
| Q2 25 | $0.03 | $0.27 | ||
| Q1 25 | $0.16 | $0.67 | ||
| Q4 24 | $-0.04 | $0.56 | ||
| Q3 24 | $-0.28 | $0.40 | ||
| Q2 24 | $0.06 | $1.34 | ||
| Q1 24 | $-0.04 | $0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $434.0M | $471.4M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $1.6B | $4.5B |
| Total Assets | $4.9B | $7.5B |
| Debt / EquityLower = less leverage | 0.88× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $434.0M | $471.4M | ||
| Q3 25 | $427.0M | $477.9M | ||
| Q2 25 | $601.0M | $338.2M | ||
| Q1 25 | $552.0M | $303.8M | ||
| Q4 24 | $536.0M | $247.3M | ||
| Q3 24 | $524.0M | $391.9M | ||
| Q2 24 | $515.0M | $162.9M | ||
| Q1 24 | $475.0M | $212.5M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.6B | $4.5B | ||
| Q3 25 | $1.5B | $4.5B | ||
| Q2 25 | $1.2B | $4.6B | ||
| Q1 25 | $1.1B | $4.7B | ||
| Q4 24 | $1.1B | $4.7B | ||
| Q3 24 | $1.1B | $4.7B | ||
| Q2 24 | $1.2B | $4.0B | ||
| Q1 24 | $1.2B | $3.9B |
| Q4 25 | $4.9B | $7.5B | ||
| Q3 25 | $4.8B | $7.6B | ||
| Q2 25 | $3.9B | $7.7B | ||
| Q1 25 | $3.8B | $7.9B | ||
| Q4 24 | $3.6B | $8.0B | ||
| Q3 24 | $3.8B | $8.0B | ||
| Q2 24 | $3.8B | $5.6B | ||
| Q1 24 | $3.8B | $5.4B |
| Q4 25 | 0.88× | — | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.26× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $52.0M | $187.1M |
| Free Cash FlowOCF − Capex | $13.0M | $35.4M |
| FCF MarginFCF / Revenue | 1.6% | 4.6% |
| Capex IntensityCapex / Revenue | 4.9% | 19.9% |
| Cash ConversionOCF / Net Profit | 0.63× | 2.16× |
| TTM Free Cash FlowTrailing 4 quarters | $104.0M | $432.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $187.1M | ||
| Q3 25 | $71.0M | $277.1M | ||
| Q2 25 | $57.0M | $216.4M | ||
| Q1 25 | $53.0M | $271.1M | ||
| Q4 24 | $65.0M | $136.2M | ||
| Q3 24 | $85.0M | $283.8M | ||
| Q2 24 | $73.0M | $106.8M | ||
| Q1 24 | $49.0M | $128.7M |
| Q4 25 | $13.0M | $35.4M | ||
| Q3 25 | $38.0M | $139.5M | ||
| Q2 25 | $27.0M | $99.8M | ||
| Q1 25 | $26.0M | $157.5M | ||
| Q4 24 | $33.0M | $-4.4M | ||
| Q3 24 | $59.0M | $156.8M | ||
| Q2 24 | $49.0M | $-34.3M | ||
| Q1 24 | $24.0M | $-37.9M |
| Q4 25 | 1.6% | 4.6% | ||
| Q3 25 | 5.6% | 17.5% | ||
| Q2 25 | 4.3% | 11.8% | ||
| Q1 25 | 4.2% | 18.0% | ||
| Q4 24 | 5.6% | -0.5% | ||
| Q3 24 | 9.9% | 19.6% | ||
| Q2 24 | 7.8% | -4.9% | ||
| Q1 24 | 3.9% | -6.0% |
| Q4 25 | 4.9% | 19.9% | ||
| Q3 25 | 4.9% | 17.3% | ||
| Q2 25 | 4.8% | 13.7% | ||
| Q1 25 | 4.3% | 13.0% | ||
| Q4 24 | 5.4% | 15.2% | ||
| Q3 24 | 4.4% | 15.9% | ||
| Q2 24 | 3.8% | 20.4% | ||
| Q1 24 | 4.1% | 26.2% |
| Q4 25 | 0.63× | 2.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.80× | 5.05× | ||
| Q1 25 | 0.71× | 2.50× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | — | 4.64× | ||
| Q2 24 | 2.70× | 0.55× | ||
| Q1 24 | — | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
